Definition of "Cost"

  1. An asset. The term cost is often used when referring to the valuation of acquired property. When it is used in this sense, a cost is an asset.
  2. Concepts of cost and expense are often used interchangeably. When the benefits of the acquisition of a building expires, the cost becomes an expense called depreciation.
  3. The sacrifice, measured by the price paid, to acquire real estate.
 

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